China criticizes US chip law as threat to trade

BEIJING (AP) — China is criticizing a U.S. law to encourage processor chip production in the United States and reduce reliance on Asian suppliers as a threat to trade and an attack on Chinese business. The law signed this week by President Joe Biden promises grants and other aid to investors in U.S. chip factories. It responds in part to warnings that supplies might be disrupted if China attacks Taiwan, the world’s leading high-end chip producer. Beijing claims the self-ruled island as part of its territory. China’s Foreign Ministry says the U.S. chip law will “disrupt international trade and distort global semiconductor supply chains.” It says the law restricts business activity in China but gave no details.